Farrell Michael J. 4

What Happened

• Michael J. Farrell, ResMed’s Chairman and CEO, exercised options and immediately sold the resulting shares on June 8, 2026. He exercised 4,991 option shares at $146.34 each (cost $730,383) and sold those 4,991 shares in the open market at a weighted average price of $193.96 for total proceeds of $968,064. The filing also reports the derivative conversion (exercise) as a $0.00 disposal entry, which reflects the conversion of the options into shares.

Key Details

• Transaction date: 2026-06-08; Form 4 filed 2026-06-09 (timely).
• Exercise: 4,991 shares @ $146.34 = $730,383 (code M = option exercise).
• Sale: 4,991 shares @ weighted avg $193.96 = $968,064 (code S = sale).
• Sale executed in multiple trades at prices from $192.605 to $194.715 (weighted avg reported).
• Footnote: Transactions were carried out under a Rule 10b5‑1 plan adopted October 31, 2024.
• Footnote: Holdings reported include 32.671 shares purchased April 30, 2026 via the Employee Stock Purchase Plan. (Shares owned after this transaction are not specified in the provided data.)

Context

• This was a cashless-style transaction: options were exercised and the resulting shares were immediately sold. That pattern is common for executives to cover exercise costs and tax obligations and does not, by itself, indicate a change in conviction about the company. Transaction codes: M = exercise/conversion of derivative, S = open-market sale. The use of a pre-established 10b5‑1 plan means the trades were likely pre-arranged.